Saudi ACWA Power International shares jump 30% over listing price in debut

  • 10/11/2021
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DUBAI, Oct 11 (Reuters) - Shares in utility Saudi Arabian developer ACWA Power International jumped 30% above its listing price on its Riyadh market debut on Monday. ACWA’s shares rose to 72.80 Saudi riyals ($19.41) in early trading, compared with the price at its initial public offering (IPO) of 56 riyals a share. ACWA, responsible for building renewable projects in the kingdom, priced its IPO at the top of the range last month, successfully raising $1.2 billion from investors. It was the kingdom’s biggest public share sale since Saudi Aramco’s $29.4 billion IPO in 2019. $1 = 3.7503 riyals Reporting by Hadeel Al Sayegh; Editing by Edmund Blair Our Standards: The Thomson Reuters Trust Principles.

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